Subscribe to Blog via Email

One of the main features of taxation of private individuals in the UK is the specific approach to determination of tax relationship of an individual with the state. The regime of taxation of incomes of individuals who are resident in the UK for tax purposes depends on whether such individuals are domiciled in the UK

In the light of worldwide business transparency strengthening trend some states and territories have applied or are currently applying registers of beneficial owners of companies. Due to this fact the requirement to disclose to public authorities details of natural persons who are ultimate beneficial owners of companies is being established. The creation of registers of

Definition of VAT VAT is a form of taxation of the value added during production or distribution of products and services which is widespread in many countries. The sum of VAT received by the seller or producer, reduced by the sums of VAT included in the price of goods and services acquired by him earlier,

The international banking for non-resident customers has recently become a permanent source of news. While some of that news appear to be predictable (especially to those who in some way or other has enjoyed the services of foreign financial institutions in recent years), the others still demand time to get accustomed to. Where formerly banks

In 2017 the legislation of Cayman Islands regulating collection, keeping and disclosure of information regarding beneficial owners of companies was amended. The registers of beneficial owners were to be filed before 29 June 2018. In accordance with subsection 3 of section 247 of Companies Law a natural person is deemed to be the beneficial owner

Since Scottish Partnerships (Register of People with Significant Control) Regulations 2017 have come into force on 26 June 2017, Scottish Limited Partnerships (SLP) are required to disclose their people with significant control (PSC). Information about PSC should be delivered to the Companies House within 14 days from 24 July 2017. A PSC is an individual

Almost all countries with normal taxation have their own lists of tax-free territories (so-called ‘offshore’ jurisdictions). The main purpose of such blacklists is to prevent use of tax exemptions or reduced rates in transactions with countries where there is no taxation or where taxation is incomparably lower than in a country of source of income.

Accounting (or bookkeeping) is usually understood as formation of systematic documented information on facts of economic life, assets, liabilities, income, expenses, sources of financing of a business entity, and preparing financial statements (accounts) on their basis. In most countries accounting is one of the most important sides of business for the majority of entities. Only

Shifting of emphasis to non-offshore jurisdictions when using non-resident structures is one of the trends in the international tax planning of recent time. Companies registered in the European countries can use not only advantageous tax regime provided by local legislation or the EU rules, but also the rules of international double taxation treaties. Latvia is